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ACC share rises 2% post strong Q4 earnings

BusinessToday.In     February 12, 2021

ACC Ltd share rose over 2% in trade today after the firm reported a 72.88 per cent rise in net profit for Q4.

ACC share touched an intraday high of Rs 1,812.35, rising 2.03% against previous close of Rs 1,776 on BSE. ACC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 21.83% in one year and risen 9.11% since the beginning of this year. Market cap of the firm fell to Rs 33,133 crore.

The firm reported a consolidated net profit of Rs 472.44 crore for the fourth quarter ended December 31. The company, which follows the January-December financial year cycle, had posted a profit of Rs 273.28 crore in the corresponding quarter a year ago.

Revenue from operations in Q4 rose 2.08 per cent to Rs 4,144.72 crore compared to Rs 4,060.31 crore in the year-ago period.

ACC's total expenses stood at Rs 3,747.64 crore, up 1.03 per cent against Rs 3,709.42 crore a year ago. Revenue from cement was up 4.63 per cent to Rs 3,876.54 crore, against Rs 3,704.94 crore of the corresponding quarter.

Its board recommended a payment of a dividend of Rs 14 per equity share of Rs 10 each (fully paid-up) for the financial year ended December 31, 2020. On Thursday, Shares of ACC closed at Rs 1,776.25 on the BSE, up 0.65 per cent from the previous close.

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